The crypto world is a funny places and occurrences in the space never fail to surprise spectators. In a new news, a staggering amount of USDC was raked in by the insolvent crypto lender, Voyager Digital. According to data gathered by Lookonchain, over the last month Vogaer has been selling some of its crypto holdings including tokens like Shiba Inu (SHIB), Ethereum (ETH), and Voyager Token (VGX).
Earlier in March, Voyager was observed to have dumped over 1.6 trillion Shiba Inu, sending over 800 billion SHIB to several significant crypto exchanges, including Coinbase and Binance.
Other cryptocurrencies the defunct company dumped included Ether and the Voyager Token. In total, Voyager received about $610 million worth of USDT in two different company addresses.
According to the on-chain analytics platform, Voyager has now transferred USDC worth $150 million to Circle to be redeemed for US dollars.
Voyager has made almost 610 million USDC via the sale of SHIB, Ethereum, VGX, and other cryptocurrencies. Right after dumping these assets, the company sent 150 million USDC to Circle, USDC's issuers, to be converted to dollars.
Apart from the cryptocurrencies mentioned above, Voyager also liquidated smaller assets such as SUSHI, LINK, COMP and MKR.
Tom Wan, a research analyst at 21co, the parent firm of 21Shares, pointed out that Voyager had been liquidating its assets since February using data from Dune Analytics.
Voyager has sent a list of 50 various crypto assets to exchanges since it started to liquidate all of its holdings. And according to Arkham, ETH ($181.74 million), SHIB ($67.54 million), and VGX ($28.82 million) were the three largest.
In the past five weeks, they have received 606 million USDC. Voyager is now in possession of around $546 million USDC.
Nonetheless, they still have a sizeable holding in alternative currencies such as Shiba Inu and Ethereum.
Voyager's addresses still hold about $151.22 million in ETH, $49.53 million in VGX, and $41.4 million in SHIB, as previously reported before the suspension of Voyager transactions on March 10.
Following the recent lawsuit from the US Commodities Futures Trading Commission (CFTC) to Binance this week, the already-approved acquisition deal between Binance US and Voyager has been put on hold by a federal court.
This decision by the court is reportedly a means of allowing the deal's participants more time to evaluate their challenges.
US District Judge Jennifer Rearden explained that the suspension of the agreement by a US federal court was done to allow the US government additional time to assess the agreement's legality.
The action was taken after the CFTC filed a separate lawsuit against Binance on Monday, to which its CEO, CZ has responded.
According to a press release, CZ claims that Binance prohibits Americans from registering accounts and that their subsidiary, Binance US, works with American regulators and complies with all laws.
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